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this post was submitted on 08 Mar 2024
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Piracy: ꜱᴀɪʟ ᴛʜᴇ ʜɪɢʜ ꜱᴇᴀꜱ
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This practice feels like something that should be illegal. Effectively it is destroying art that hundreds or thousands of people worked hard to make, for the sake of fiddling the books of the owning company that commissioned it.
If you "write it off" to be worth zero, it should either become freely available abandonware, or can be claimed as the intellectual property of those that worked on it. Otherwise it is evident that there is some value to be had and therefore tax fraud to claim it has none.
I agree with you. If a company writes off something in order to make it with zero, then that thing should immediately fall into the public domain.
You would have to have another law that says that anything significantly devalued must be able to be purchased for the stated value. Otherwise they will just say it's worth $1.
It's crazy that WB is getting away with blatant tax fraud. I can't claim my house is worth $0 in order to pay no taxes yet WB can say, "This media is worth $0 for tax purposes."